Section 664-A - Resale by dealer1.Vehicle sold by dealer. A vehicle that is sold by a dealer must be accompanied by a properly assigned and valid certificate of title or certificate of salvage at the time of its sale. A dealer may retain and process certificates of title and certificates of salvage at the dealers primary facility if in the case when the dealer displays a vehicle at an annex facility the dealer maintains a copy of the certificate of title or certificate of salvage at the annex facility. A dealer selling a vehicle to a lessee who elects to purchase the leased vehicle at the end of the lease term is exempt from this provision. [2021, c. 216, §17(AMD).]
2.Vehicle held by dealer. If a dealer holds a vehicle for resale and obtains the certificate of title or certificate of salvage, the dealer is not required to deliver the certificate to the Secretary of State. [1997, c. 437, §20(NEW).]
3.Transfer. When transferring possession of a vehicle held for resale to a retail purchaser or selling a leased vehicle to the lessee, a dealer shall comply with section 654. [2021, c. 216, §18(AMD).]
4.Unreleased security interest. If a certificate of title shows an unreleased security interest, a dealer may not transfer possession of the vehicle unless the dealer possesses a properly released certificate of lien or the Secretary of State has issued a replacement certificate omitting the security interest under section 705. [2001, c. 671, §14(AMD).]
5.Sold at auction. Except for a vehicle sold to a dealer at a vehicle auction licensed under section 1051, a vehicle that is sold at an auction must be accompanied by a valid certificate of title or salvage at the time of its sale. The seller of a vehicle sold to a dealer at a vehicle auction licensed under section 1051 must provide the purchasing dealer with a valid certificate of title or certificate of salvage within 30 days. [2021, c. 216, §19(AMD).]
6.Documentation. A vehicle that is exempt under section 652 or a vehicle from a jurisdiction that does not issue certificates of title must be accompanied by information and documents to establish the ownership of the vehicle and the existence or nonexistence of a security interest in it. [1997, c. 437, §20(NEW).]
7.Penalty. Violation of this section is a Class E crime. [1997, c. 437, §20(NEW).]
Amended by 2021SP1, c. 216,§ 19, eff. 10/18/2021.Amended by 2021SP1, c. 216,§ 18, eff. 10/18/2021.Amended by 2021SP1, c. 216,§ 17, eff. 10/18/2021.Amended by 2012, c. 556,§ 6, eff. 8/30/2012.1997, c. 437, § 20 (NEW) . 2001, c. 671, § 14 (AMD) . 2009, c. 598, § 29 (AMD) .